The International Monetary Fund (IMF) has officially recognized digital assets in its global economic reporting framework for the first time, updating its balance of payments standards to reflect the growing role of cryptocurrencies and blockchain-based assets in the global economy.
In the newly released seventh edition of the Balance of Payments and International Investment Position Manual (BPM7), the IMF introduced detailed guidelines on how to classify and record crypto assets such as Bitcoin, stablecoins, and token-based platforms like Ethereum and Solana.
The manual, published on March 20, updates the global statistical standards last revised in 2009.
According to the new framework, digital assets are divided into fungible and non-fungible tokens, and are further classified based on whether they carry associated liabilities.
Bitcoin and other tokens without backing liabilities are treated as non-produced nonfinancial assets, categorized under the capital account.
This means cross-border transactions involving these tokens will now be tracked as acquisitions or disposals of non-produced assets.
In contrast, stablecoins and similar digital currencies that are backed by liabilities are considered financial instruments.
Platform-based tokens, such as Ethereum and Solana, may be classified as equity-like instruments if they are held across borders, reflecting ownership rights similar to traditional equities.
The manual also addresses staking and crypto yield activities, which are to be treated as sources of income akin to dividends, depending on the holder’s intent and scale of holdings.
Additionally, services related to crypto mining and staking are now recognized as exportable computer services, aligning with broader trends in the digital economy.
Developed in consultation with over 160 countries and the IMF Committee on Balance of Payments Statistics (BOPCOM), the BPM7 manual serves as a foundational framework for compiling external sector statistics.
It aligns with other major updates in global economic accounting, including the *System of National Accounts 2025*, adopted by the United Nations Statistical Commission earlier this month.
The IMF aims for widespread adoption of BPM7 and the updated national accounts system by 2029–2030, with technical assistance and guidance provided to support implementation.
The white cover version of BPM7 is currently available in English, with additional language versions expected upon final publication.
These updates mark a significant shift in how digital assets are treated in international statistics, providing countries with the tools to better track their impact on trade, investment, and economic performance.
